Forex Trading Analysis

SELL OPPORTUNITY KNOCKING IN EUR USD.

Eur Usd is trading in a small range since mid April. However some good opportunities were arisen in the meantime. But now the pair started hitting the resistance lines. Means that a good sell opportunity is knocking. It is still possible that the pair may rise from here but should be taken as a profitable opportunity to sell. The pair is stuck within it’s two months range and currently trying to break above. According to our analysis pair should fail to do that. Pair is currently trading around 1.10900 at the time of writing and we started selling the pair here with hope to earn good profits.

DISCLAIMER:- Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.

FOREX MARKET PASSING THROUGH AN EXTREMELY LOW VOLUME PHASE

Since mid April forex market is passing through a record low volume phase. Market is neither in hurry to reach the Top nor Bottom. Besides low volume due to summer season, coronavirus making the trading situations worse. But even in this type of ultra low volume conditions, good traders are continuing to find trading opportunities. I will also start to write the posts again after a long break, as soon as a good opportunity is recognized. Wishing all of you GOOD LUCK and happy summer trading session.

ARE RISK CURRENCIES ABOUT TO TURN?

Forex market was showing some signs of reversal previous week. And we started to book profits in eur usd a little bit earlier. However with the overall strength of Usd, and due to Gbp usd’s weakness Eur Usd was also dragged lower. Usd jpy was in continuous uptrend in the whole last week. Usd chf also followed Usd jpy and continued it’s uptrend. Last week I not wrote about aud usd and Nzd usd as there was not much to add. Both the pairs were in downtrend and fetched a decent profit. Now the major question is if the forex major pairs are turning now? Let’s discuss all the major forex pairs in detail.

Following is are risk currencies about to turn in detail.

Eur Usd :– We misinterpreted the pair last week and booked profits a little bit earlier at around 1.09000. The following weakness in the pair was not exactly a surprise but we started buy in pair a little bit earlier was a silly mistake. USD was in strength and that reflected in eur usd too. The pair made a low around 1.06500, currently trading around 1.08000. Is the pair still in downtrend or the weakness over is a big question. Pair is looking overstretched but still needs a confirmation to reverse, according to our predictions. That confirmation is likely to arise in a day or two. Currently we are staying aside in wait and watch mode in this pair.

1st update :– 25 March — Eur usd price is confirming the reversal. Price finding it difficult to hold on lower levels. Current price of the pair is 1.08350.

Gbp Usd :– If you are a regular reader of this blog, you know that we recommended to sell the pair at around 1.30000 on 12 March update. Since then there is a continuing downturn in the pair and we highlighted in previous post that there is no sign of reversal yet. But from today onwards, the pair is showing some signs of strength. The pair will reverse from here or not is still to be confirmed. The pair will trade will little bit bearish bias before it turns. The pair is currently trading around 1.17800 after making a low around 1.14500. We are still in wait and watch mode to trade the pair. The pair will confirm it’s direction in next few days.

1st update :– 25 March — The pair is finding it difficult to hold on the lower levels, reversal is confirmed. Pair is currently trading around 1.19000. Good luck.

Usd Jpy :– We were adding the pair to our portfolio on every weakness. The pair made a low around 101.100 and a high around 111.900. The pair is now showing the signs of reversal. We are selling the pair on rallies now. There is not much to explain about the pair today, just sell it is the call. The pair is currently trading around 111.000. Any updates will be printed when needed.

Usd Chf :– In previous post we highlighted that the pair is trading near it’s resistance lines and should trade with bullish bias for some time. The pair was trading around 0.96000 that time. The pair made a high around 0.99000 and currently trading around 0.98200 at the time of writing. The pair is looking to compete it’s uptrend and likely to reverse so soon. Traders are advised to fasten their belts to sell the pair to earn decent profits. We have no positions in this pair.

Aud Usd :– Aud Usd was in downtrend from the last three weeks. We don’t updated about the pair in previous post as there was not much to explain. The pair made a low around 0.55300 recently and currently trading around 0.60400 at the time of writing. The pair has confirmed it’s reversal two days ago. But the train is not missed yet. Traders are recommended to join the uptrend for a decent profit in coming weeks. We are in buy position in the pair from the last two days.

Nzd Usd :– Nzd Usd was in downtrend from last three weeks. The downtrend has confirmed it’s reversal two days ago. Traders are advised to book profits in sell positions and buy the pair. The pair made a low around 0.54500 currently trading around 0.59800. Jump into the trend to earn good profits as there is a lot of potential for price to go higher. We have no positions in this pair.

Stay tuned for more in are risk currencies about to turn?

DISCLAIMER :– Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.

IS IT TIME TO BOOK PROFITS IN EUR USD AND GBP USD ?

Congratulations to all those following this blog and earning decent profits. In previous post some good profit making opportunities were highlighted specifically in eur usd and gbp usd. Traders buying usd jpy on dips are also in good profits. Usd chf buyers are also happy. Aud usd and Nzd usd was predicted to trade in only one direction, that was bearish. Both the pairs are in downtrend since then. Let’s discuss all the major forex pairs in detail.

Following is the detailed analysis in is it time to book profits in eur usd and gbp usd?

Eur Usd :– After making a Top around 1.15000, the pair was under pressure, and to sell on rallies was recommended in our previous post. Later the post was again updated and to sell the pair was recommended around 1.12500. The pair continued to be in downtrend since then. Congratulations to all making good profits. The pair is currently trading around 1.10000. Now the question is if it’s time to book profits in the pair or the pair will continue it’s march downwards? The answer is simple for both risky and conscious traders i.e., book your profits and start buying the pair. We have booked profits yesterday and also started buying around 1.09700. Hope we all make good profits.

Gbp Usd :– Gbp Usd was recommended to sell on rallies in our previous post. Later in 10 March update it was highlighted that the pair is unlikely to sustain it’s strength, the pair was trading around 1.30000 that time. Since then the pair is maintaining it’s weakness and made a low around 1.20000 currently trading around 1.21200. Now the question is if the downtrend paused or will continue. The answer is, however the pair is overstretched but there is no sign of bottom yet. We are waiting to book profits and start to buy the pair.

Usd Jpy :– We were adding Usd Jpy in portfolio on every dip, the pair staged a robust recovery from lower levels of 101.100 and made a high around 108.300. The price currently trading near it’s resistance lines. The Top is expected soon. Current price of the pair is 107.400 expected to trade with some bullish bias for a day or two. We are waiting to sell the pair at some more favorable prices and to start selling the pair. Keep in touch for more updates in the pair.

Usd Chf :– Usd Chf was recommended to buy on dips in our previous posts, the pair made a bottom around 0.91600. Currently trading around 0.96000 and is expected to trade with some bullish bias for a day or two. The pair is very much near to it’s resistance lines. Let the resistance lines hit first before any meaningful reversal. Any further hints will be updated as soon as they arise. We have no positions in this pair.

Stay tuned for more in, is it time to book profits in eur usd and gbp usd ?

WHAT WILL BE THE NEXT IN FOREX TRADING AFTER ROLLERCOASTER RIDES LAST WEEK.

Hello to all, last week we all witnessed was full of rollercoaster rides, swings can still be felt. Will it continue this week or not is a big question. I also have no answer for this. Till now I used to trade with only one method, which was to buy the pair at support lines and sell it at the resistance lines, but this week’s forex market behaviour taught me a lot and forced me to change my trading style completely. You will see the change in my trading style in my coming posts.

Okay let’s discuss the last week first before moving to the forecast. Eur Usd staged a robust rise and was just shy of the 1.15000 mark. Gbp usd seemed completely unaware of what’s going on in rest of the forex market, traded at it’s normal pace, currently trading around 1.30500. It was Japanese yen’s strength and U.S. Dollar’s weakness which dragged the pair around 101.100, which was not exactly expected. Like Usd jpy, Usd chf dropped to some unpredicted levels, made a low around 0.91700. The pairs recovered so fast were Aud Usd and Nzd Usd. A commendable recovery was noticed in both the pairs. Just look at the daily candles of both the pairs. Let’s discuss the forecast of all these major forex pairs in detail.

Following is what will be the next in forex trading after rollercoaster rides last week.

Eur Usd :– We were happy to book profits around 1.12000. The following rise in the pair was unexpected and came as a surprise. The pair is currently trading around it’s resistance lines. The current price is the pair is 1.14000 after making marking a Top just below 1.15000. There are two ways to trade the pair:– 1. For Risky traders :– As the pair is trading around it’s Top and again and again hitting it’s resistance lines, pair can be sold on every rally to make good profits. 2. For Conscious traders :– However the pair is hitting it’s resistance lines, direction of pair is still in favor of bulls. Sell the pair only if it breaks the short term support line. I will update for that later. We are holding our sell positions in this pair and plan to sell if the pair advances further.

1st update for eur usd:– 12 March 2020 — Here is the first update for eur usd conscious traders. Bullish momentum started to decline. Also today is ECB, which is awaited. Traders should consider sell the rallies in the pair. Price is currently hovering around 1.12500.

Gbp Usd :– Gbp Usd not reacted to the U.S. dollar weakness like other pairs. The pair was expected to trade with bullish bias in our previous post. Pair touched the high near 1.32000 before returning to the current price of around 1.30500. The pair is trading near it’s resistance lines. There are two ways to trade the pair:- 1. For Risky traders :– As the pair is near it’s resistance lines after making a Top. To sell on rallies will be a profitable strategy to make profits in the pair. 2. For conscious traders :– However the pair is currently trading near it’s Top, pair is not ripe to sell yet. I will update later as the pair breaks it’s short term Support. We are selling the pair with rallies.

1st update:– 10 March– For conscious traders here is an update, pair finding it difficult to hold on upper levels, price may start to fall soon.

Usd Jpy :– We were expecting the pair to make a bottom near 105.00 . But the pair made a low near 101.100 yesterday due to global financial markets crisis. It is not clear if the fall is over or not. Right now the pair is maintaining it’s strength ,trading around 103.500. Obviously pair is continuing to hit it’s support lines according to our analysis. There are two ways to trade the pair:- 1. For Risky traders :– As the pair is continuing to trade near it’s bottom lines, to buy on dips strategy is still valid in this pair to earn decent profits. 2. For conscious traders :- However the pair is trading near it’s support lines, pair is not ready to buy until it breaks it’s near term resistance line. I will update later if it breaks. We are holding our buy and adding positions as the pair goes down further.

Usd Chf :– Usd Chf also behaved abnormally last week expected to make a bottom near 0.93000. In previous post we recommended to book profits and start buying near 0.96000. Pair made a low around 0.91800 before returning to the familiar levels of 0.93200. There are two ways to trade the pair:- 1. For risky traders :– As we already recommended to buy on dips, the strategy is still valid to earn decent profits. 2. For conscious traders :– However the pair is currently trading around it’s support lines, the pair is not yet ready to buy until it breaks it’s near term resistance line. I will update later if it breaks. We have no positions in this pair.

Aud Usd :– Aud Usd was recommended to sell in our previous post as it was already trading around it’s support lines. The pair was expected to make a bottom around 0.63000. Our book profits and start selling price was 0.66000. The pair made a low around 0.62800 ,returned to 0.66800 , currently trading around 0.65700. Now there is only one scenario in this trade, to sell on rallies. But the will still take time to make a Top. The pair has potential to advance further for some time. I will update later about the sell opportunity in this pair. Those with buy positions should hold them. We have buy positions in this pair looking to book profits and to start selling the pair in coming days.

Nzd Usd :– In Nzd Usd we recommended to buy the dips. However the following dips were more than our expectations, it is already stated many times that the pair’s range is larger than others and also it spends more time in consolidations. The pair was expected to make bottom around 0.62000. It dropped till 0.60000, currently trading around 0.63000. The pair has potential to advance further so carry on your winning streak for now. I will update later about it’s Top. Pair is currently in below it’s resistance lines but above the mid of it’s recent range. We have no positions in this pair.

Stay tuned for more in what will be the next in forex trading after rollercoaster rides last week.